01-23-2013, 04:49 PM
Join Date: Jun 2007
Re: THQ bankruptcy auction today, selling off assets
Looks like it's all a done deal now.
THQ is no more.
The publisher, which found itself on the wrong end of a bankruptcy-induced auction yesterday, will dissolve as soon as its bankruptcy hearing and subsequent sales transitions are completed. Confirmation of this news comes in the form of a letter sent to THQ employees today, which was obtained by Kotaku. According to the letter:
Ubisoft has purchased the rights to THQ's Montreal Studio, and South Park: The Stick of Truth. There is no immediate word on how this purchase will be affected by South Park Studios' lawsuit to prevent their property from being included in this sale. Also of note is the fact that Patrice Desilets, the former Assassin's Creed creative director who left Ubisoft to pursue new opportunities at THQ, is now back with his former publisher for at least the moment.
Koch Media, the parent company of Dead Island publisher Deep Silver, has purchased Volition Inc. and the Saints Row brand, as well as the Metro franchise.
Sega will be taking control of Company of Heroes developer Relic Entertainment.
Crytek has purchased the rights to the Homefront franchise for some reason.
Take-Two Interactive takes over Turtle Rock Studios' Evolve.
That leaves a few properties and studios unaccounted for, most notably Darksiders developers Vigil Games, as well as the company's long-held WWE license. The letter outlines that THQ will be making every effort to find buyers for the remaining properties. However, outside of a skeleton crew remaining to help with the transition, THQ's primary staff is apparently being laid off.
We'll update this story as more information becomes available.
Update: DDInvesting, who has been covering the THQ hearings with great regularity, has posted the prices apparently paid for the individual properties. They are as follows:
$500k Homefront (Crytek)
$26M for Relic (Sega)
$2.5M for THQ Montreal (Ubisoft)
$3.2M for South Park (Ubisoft)
$11M for Evolve (Take-Two)
$22.3M for Volition (Koch Media)
$5.8M for Metro (Koch Media)